- Future FinTech Group ( NASDAQ: FTFT ) said on Thursday it had signed a Memorandum of Understanding to acquire Alpha Financial Limited subsidiary Alpha International Securities, a firm based in Hong Kong.
- The purchase price and acquisition terms will be determined after due diligence and a financial audit.
- A formal agreement will be executed within 60 days after the parties have had mutual agreement to the terms of the acquisition.
- Under the MOU terms, Alpha Financial Limited will not engage in activities with any other party pursuant to the sale of Alpha Securities for a period of two months.
- Future FinTech is a blockchain application technology developer and fintech service provider.
- Alpha Securities focuses on financial services sectors, including online brokerage services, underwriting and distribution of securities for Hong Kong IPOs, and the underwriting of US dollar-based bonds issued by Chinese municipal cities and companies in Hong Kong.
- ( FTFT ) down 3.9% in premarket trading.
For further details see:
FTFT signs MOU to acquire Alpha International Securities